Brookfield Investments Corporation Announces Third Quarter Financial Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/29/13 -- Brookfield Investments Corporation (the "company") (TSX VENTURE: BRN.PR.A) reported $68 million of net income or $1.37 per common share for the three months ended September 30, 2013 compared to $23 million or $0.47 per common share in the same period in 2012. Net income increased by $45 million primarily due to $52 million of disposition gains prior to deferred taxes, including a $37 million gain on partial sale of the company's investment in Western Forest Products Inc. common shares.
Comprehensive income, which consists of net income and other comprehensive income was $19 million compared to $11 million in the same period of the prior year. Other comprehensive income was a $49 million loss during the quarter, compared to a $12 million loss in the 2012 quarter. The current period included mark-to-market losses on the company's indirectly held investments in Brookfield Property Partners L.P.
Brookfield Investments Corporation holds investments in the property and forest products sectors, as well as a portfolio of preferred shares issued by companies within the Brookfield group. The common shares of Brookfield Investments Corporation are wholly owned by Brookfield Asset Management Inc. Brookfield Asset Management Inc. is a global alternative asset manager with over $175 billion in assets under management, has over 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and BAM.A, respectively.
Derek Gorgi, Vice President and Chief Financial Officer, will be available at 416-363-9491 to answer any questions on the company's financial results.
Contacts:
Brookfield Investments Corporation
Derek Gorgi
Vice President and Chief Financial Officer
416-363-9491
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Datum: 29.11.2013 - 23:33 Uhr
Sprache: Deutsch
News-ID 321394
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TORONTO, ONTARIO
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Commercial Real Estate
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